Masco unveils spinoff business

TAYLOR, Mich. — Masco Corp. has announced that the new independent publicly-traded company that will be separated from it upon completion of the spin-off of Masco’s Installation and Other Services businesses will be named TopBuild Corp. and will be listed on the New York Stock Exchange. TopBuild will be comprised of the Masco Contractor Services (MCS) business, a leading installer of insulation in the U.S., and Service Partners, a leading distributor of residential insulation products and related accessories in the U.S. These combined businesses reported revenue of $1.5 billion in 2014. Upon completion of the spin-off, the MCS business will operate as TruTeam, reflecting its approach of teaming its local relationships and field professionals with national resources and experience.